Avid Bioservices Inc (CDMO)

[DewDiligence]

In the scenario I’m describing, only the broker non-votes get recounted—not the explicit-yes and explicit-no votes; hence, such a scenario is not equivalent to a whole new vote, as you’re alleging.

…though I appreciate your reply, my point is why even [make] the proposal when #3 is a clear NO?

Proposal #3 is not an automatic defeat, and that’s the whole point of this thread. If PHHM wants badly enough for Proposal #3 to pass, they may be able to make it happen by adjourning the annual meeting and lobbying brokers who didn’t initially vote (just as HEB did).